CHESSNOID

OK, today the markets started off positive, traded choppy, then just fell.  Here are the closing numbers for today:

The S&P fell below the 1,000 mark and shattered the psychological floor.  I really thought we would have a bounce like the last time the indexes fell from the bailout not passing the first time.  So what does this mean?  I think the rumors for another rate cut are probably true and will happen by the end of the week. We are already at a low 2% and doubt this will have any positive long term effect.  The high gas and food prices are a result of the last 7 rate cuts from 5.5% down to 2%.

I don’t think governement should continue to muck up the economy by making these poor decisions.  Bush, Bernanke, and Paulson were all in denial about the recession and slow down just a year ago, and now they are throwing everything at the wall hoping something will stick.  I can’t believe these 3 stooges are in charge of the most important economies in the world!